Recently, in In re Pack Liquidating LLC,[1] Hon. Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware granted derivative standing to the official committee of unsecured creditors to pursue breach-of-fiduciary-duty claims against the company’s founders on behalf of the debtors’ estates.
Committees
Spring is here, and the Unsecured Trade Creditors Committee looks back on an eventful 2023 and a busy start to 2024 (for both the committee and the restructuring space as a whole).
The Third Circuit Court of Appeals’ recent ruling in the FTX bankruptcy case severely limits a bankruptcy court’s discretion to deny the appointment of an examiner in a bankruptcy case.[1] In FTX, the U.S. Trustee filed a motion to appoint an examiner. The bankruptcy court denied the motion.
Our committee’s leadership has been hard at work, organizing educational programming and social events to keep our members engaged. Here are some highlights of recent events.
The Bankruptcy Code, in its current form, anticipates the inclusion of intellectual property (IP) within the property of an estate.
How do you show that a legal entity acted with intent to defraud its creditors for purposes of an avoidance action asserted under Bankruptcy Code § 548(a)(1)(A)? After all, legal entities themselves cannot form an intent; they can only act through their officers, directors or agents.
Since its inception, subchapter V of chapter 11 has been lauded for providing a streamlined path through chapter 11 for smaller chapter 11 debtors without many of the costs associated with “traditional” chapter 11 cases.
As we near the end of 2023, we are pleased to step back and highlight the work performed by the Young and New Members Committee over the past year. We have loved working with our committee leaders and are truly grateful for their time and commitment to ABI.
What’s been going on in the bankruptcy claims marketplace over the past year? Crypto, crypto, crypto, sprinkled in with a little bit of trucking, courtesy of the Yellow Corp. case. [1]
The Third Circuit has a reputation as being a “plain meaning” court — meaning that it strictly construes and applies the words of a statute. Its Jan. 19, 2024, opinion in In re FTX Trading Ltd. [1] is an example.
Sat, 2023-04-22
This panel will discuss the following issues regarding crypto, distinguishing customer property from property of the estate, understanding crypto valuation issues, distribution options in crypto cases, M&A risks and pitfalls, effectively using social media to communicate with a large customer base, juggling cash and crypto management, and debtor-on-debtor violence.
Sat, 2023-04-22
This panel will explore industry trends and commonalities between the parallel issues of failing health care systems and debtors bankrupted by medical debt. The panelists will discuss and debate what could happen when these two debtor groups overwhelm the bankruptcy system, the challenges that health care debtors, consumer debtors and insurance payors face today, and how practitioners across various insolvency disciplines involved in these industries can plan for the future with these trends on the horizon.
Tue, 2023-03-14
Conducted in a Q&A format, this webinar will feature a series of mediation hypotheticals/questions presented to Mediation Committee Co-Chair Connor Bifferato and Education Director Edward Schnitzer for discussion and/or debate.
Tue, 2023-02-28
Join our panelists as they discuss the DOJ’s new student loan guidelines and provide context on how the guidelines will impact debtor attorneys, trustees and other entities in the bankruptcy process.
Sat, 2023-02-25
The Financial Advisor and Investment Banking Committee of the ABI presented its "Hot Topics and Prognostications for 2023" on February 25, 2023. From busted SPACs to heathcare to retail and real estate, the FAIB previewed issues that the restructuring community will necessarily address in the coming year. The FAIB also previewed its programming for 2023, which will cover such topics as cross-border disputes and litigation, tax issues for the non-tax professional, and myriad governance issues and considerations in the context of distress or conflict.
Wed, 2023-02-22
These overviews from ABI committee experts will arm you with vital information you can use in your practice well into the new year.
Wed, 2023-02-15
The ABI Mediation Committee’s “Look Ahead to 2023” presentation began with a summary of the Committee focus areas, an introduction to Committee leadership and highlights of the benefits of committee membership, such as our active listserv discussions, opportunities to write for our newsletter, and networking events at ABI conferences throughout the country.
Wed, 2023-02-15
On February 15, 2023 the Emerging Industries and Technology Committee co-hosted its Look Ahead to 2023 with the Mediation Committee. The Emerging Industries and Technology Committee focused its presentation on its release of ABI Tech Bytes, an ongoing series of podcasts for ABI membership. Multiple podcasts are in production for release by the Annual Spring Meeting and this Committee is soliciting ideas from ABI membership for issues and content they would like to learn more about.
Wed, 2023-02-08
On February 8, 2023, Evelyn Meltzer and Kyle Ortiz, co-chairs for the International Committee, co-hosted the 2023 Look Ahead with members of the Asset Sales Committee. Evelyn and Kyle discussed what the committee has been up to as well as future events and speaking and writing opportunities for committee members. Additionally, Evelyn and Kyle discussed hot topics in international insolvencies for 2023.
Wed, 2023-02-08
On February 8, 2023, Evelyn Meltzer and Kyle Ortiz, co-chairs for the International Committee, co-hosted the 2023 Look Ahead with members of the Asset Sales Committee. Evelyn and Kyle discussed what the committee has been up to as well as future events and speaking and writing opportunities for committee members. Click here to watch the video of this event.